Institutional economics and the environment

What is institutional economics? What contributions can it give to environmental economics? If you have already heard about Coase or are familiar with terms such as transaction costs and property rights, then you have already had a first encounter with institutional economis. If you want to know more, you can read Parto, Saaed, 2005. Economic Activity and Institutions: Taking Stock, Journal of Economic Issues 39(1), 21-52 (Link via ProQuest, works only from computers of the University of Helsinki). In addition of a review of the development of institutional economics and a classification of institutions’ types, the article outlines a conceptual framework “for studying technological transitions as evident in two empirical cases: (1) the pulp and paper industry in Europe and (2) the Dutch waste arena (subsystem).” (Saaed 2005, 21)

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